crypto projects beginner

Understanding the variety of crypto projects is very difficult. At the moment there are so many of them that a beginner’s head would get dizzy from their variety. However, you should understand that not every project is worthy of your attention, and will not necessarily meet your requirements.  We will tell you how to identify worthy projects and understand how you can make money on them.

And about the different crypto projects to watch, you can learn on the platform ChainBroker. There you can find out the most current information.

Basic Selection Criteria 

The first and main factor to be evaluated right away is capitalization. Many people choose coins that are now at the top of the most demand because many investors have already believed in these projects. Guided by such a strategy, do not forget that LUNA was also once in the top 10, which helped attract serious investment and, afterward, trigger financial losses. There is always a risk when working with digital assets, so do not forget about diversification. If you decide to buy a cryptocurrency on the exchange, assess the following factors:

  • The chart of a particular coin. Pay particular attention to what price ups and downs the coin or token has experienced;
  • Position in the capitalization rankings;
  • The existence of a future development plan to determine the crypto project’s prospects;
  • Evaluate the type of blockchain, the goals of the development team, and what projects have been implemented before;
  • The current value of the cryptocurrency and price changes over the last period and in times of crisis.

When investing, assess your goals – long-term perspective or making a quick profit. This will help you choose projects that will bring you closer to the expected result.

Investment Objectives

The most relevant crypto-projects can bring fast profits. Meta-universes, NFT, DeFi, and solutions that form their own networks, such as Avalanche and Polkadot, are trending right now. To understand how investments with a term work, pay attention to a number of actions. What to consider when buying cryptocurrency:

  • Long-term. You’re investing in a project, and time plays in your favor. In the long term, your investment not only pays off but also increases (buy and HODL principle). The strategy presented is suitable for sustainable popular projects.
  • Medium-term. The strategy is used if a crypto-asset suddenly became in demand, so you can buy it on a wave of hype in order to sell it quickly enough.
  • Short-term. The riskiest investments because it is difficult or almost impossible to predict the coin’s behavior. But at the same time on such projects, you can increase your capital by several times.

For successful investments, analyze the market situation, paying attention to all aspects of the development of a particular crypto startup.

Market Research 

If you are just starting your way in the cryptocurrency market, you should do two pieces of research. The first is a cryptocurrency market recertification, and the second is a project-specific recertification. Over the past few years, the cryptocurrency sphere has been growing rapidly, going far beyond a tool to pay for goods on darknet marketplaces and attracting investors of all stripes. It is a huge industry with its own rules, players, and trends, such as DeFi, NFT, Web 3.0, and others. However, the lack of regulation and the fashion for cryptocurrency among people with low financial literacy led to the fact that strong projects from professional teams with a “big name” and projects created in a week by rogue singles with one single goal – scams can coexist here. That is why market research is an obligatory procedure before carrying out research for specific projects.

General Knowledge of the Project

Directions and sub-directions

  • Key players in venture capital investing in the cryptocurrency market;
  • Current trends;
  • Key media and professional resources;
  • Top Influencers and opinion leaders.

Start your dive into the world of cryptocurrencies by studying the top 50 or top 100 tokens by market capitalization. You need to understand the differences between Bitcoin and Ethereum, know what NFT is, what Bridge is, what Hard Fork, what Proof-of-Work and Proof-of-Stake mean, and what virtual land plots can sell for hundreds of thousands of dollars. So start with the leaders by studying their projects in detail. You can use aggregator sites like CoinMarketCap and CoinGecko to find Top Cryptocurrencies by market capitalization. 

You also need to immerse yourself in the information space. Twitter, Telegram, and Discord are mandatory accounts for this. Subscribe to the accounts of leading blockchain projects, mainstream media, venture capitalists, and opinion leaders. For convenience, it is recommended to use a separate Twitter account for the research, so as not to clog up the feed with other topics. Read what they write every day for a month to study the main trends and current trends in cryptocurrencies and understand who is who among Influencers and who can be trusted in what.

By the way, cryptocurrency trends are working out. The market is manipulative and the capitalization of young projects is small. Therefore, herd instinct plays an important role. If everyone is talking about NFT, it means that investors who hear this invest their money into projects related to them, and they start to grow rapidly. Now, for example, there is a lot of talk about AI, and we have already seen the growth of AI-related projects, and most likely we will see more (not financial advice). So it’s important for you to “be on trend”.

By Jim O Brien/CEO

CEO and expert in transport and Mobile tech. A fan 20 years, mobile consultant, Nokia Mobile expert, Former Nokia/Microsoft VIP,Multiple forum tech supporter with worldwide top ranking,Working in the background on mobile technology, Weekly radio show, Featured on the RTE consumer show, Cavan TV and on TRT WORLD. Award winning Technology reviewer and blogger. Security and logisitcs Professional.

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